Bxgrl: I repeat – the monetary policy of the United States is (thankfully) not under the control of the Congress. It is the responsibility of the Federal Reserve. That is a fact.
I have no problem calling the extension of unemployment a stimulus, and have no problem with Obama calling it that, either. When people are out of work, have spent their savings and retirement accounts to stay above water, and are living on extended unemployment, that’s a stimulus for them, and for the economy because it enables them to pay at least some bills, buy food, etc. Stimulating the economy is more than just buying high ticket items. The money is taxed, those taxes are taken out, or paid later, the economy sluggishly plods towards recovery. Now before someone howls that unemployment is not a tax cash cow, I am aware of that. However, as I said before, the economy (and health care) is complicated. There is no one stop answer, and it will only improve when lots of different ideas and programs are tried. For the millions for whom extended unemployment has been a lifesaver, I’m sure they are grateful the gov’t is not expecting the better off to start spending as a prerequisite for their survival.
We need to look at this not as an exercise in economic theory, but real life stories of millions of people who did what they were supposed to – got jobs, bought homes, cars, raised families, or not, but participated in the American Dream. The fact that the toss of the economic dice that determined that they were out, while others are still in, while they played by the rules, deserves a government response, sooner rather than later. Tossing money into a stimulus package was and is not the only solution to our problems but is a part of a long term plan that will need to be tweaked and adjusted. The president himself said that some things worked, others didn’t, and they are constantly working on better solutions. This is going to take time, and in the meantime, anything that can help people should be done, or continued.
“benson- then I suggest you look at what it is Congress does- it writes laws. If you think the Federal reserve is the only arbiter of of money policy, you are not understanding that Congress does indeed write and pass legislation that protected the economy of the excesses and bad practices that bought us into our present mess.
”
Bxgrl: I repeat – the monetary policy of the United States is (thankfully) not under the control of the Congress. It is the responsibility of the Federal Reserve. That is a fact.
Yes, CGar, a total gut job, nothing salvageable except maybe the stair railing. And, my fear was that in addition to needing a new roof, it would need all new rafters as well. 🙁
that said, one might be able to repaint the outside shingles. They weren’t that bad but all the windows needed to go.
unemployment is not a stimulus package- it was part of the stimulus package to help stabilize the economy. But have it your way- nothing like losing the forest for the trees.
Why is it so hard for some people to admit they made an error?
“In the end, it was a change of monetary policy that helped us recover. strengthening the dollar.”
Legion- yes- regulatory changes that were weakened or tossed out by the Republicans.
Posted by: bxgrl at February 1, 2010 11:54 AM”
But laws regulating how businesses operate are not- and this is what I am talking about. And which you also know.
Bxgrl: I repeat – the monetary policy of the United States is (thankfully) not under the control of the Congress. It is the responsibility of the Federal Reserve. That is a fact.
Posted by: benson at February 1, 2010 12:12 PM
He’s correct.
You are compares apples to oranges. Today’s world is nothing like when Reagan took office.
Posted by: 11217 at February 1, 2010 12:06 PM
11217,
yeah, the world is nothing like 1981.
-mullahs threatening the West.
-oil the key destabilizing concern.
-high unemployment.
-democrats and republicans at each other’s throats.
-key American industries in crisis (like the automobile)
-fears of the end of American leadership in the world.
…yeah, the more things change the more they stay the same.
I have no problem calling the extension of unemployment a stimulus, and have no problem with Obama calling it that, either. When people are out of work, have spent their savings and retirement accounts to stay above water, and are living on extended unemployment, that’s a stimulus for them, and for the economy because it enables them to pay at least some bills, buy food, etc. Stimulating the economy is more than just buying high ticket items. The money is taxed, those taxes are taken out, or paid later, the economy sluggishly plods towards recovery. Now before someone howls that unemployment is not a tax cash cow, I am aware of that. However, as I said before, the economy (and health care) is complicated. There is no one stop answer, and it will only improve when lots of different ideas and programs are tried. For the millions for whom extended unemployment has been a lifesaver, I’m sure they are grateful the gov’t is not expecting the better off to start spending as a prerequisite for their survival.
We need to look at this not as an exercise in economic theory, but real life stories of millions of people who did what they were supposed to – got jobs, bought homes, cars, raised families, or not, but participated in the American Dream. The fact that the toss of the economic dice that determined that they were out, while others are still in, while they played by the rules, deserves a government response, sooner rather than later. Tossing money into a stimulus package was and is not the only solution to our problems but is a part of a long term plan that will need to be tweaked and adjusted. The president himself said that some things worked, others didn’t, and they are constantly working on better solutions. This is going to take time, and in the meantime, anything that can help people should be done, or continued.
“benson- then I suggest you look at what it is Congress does- it writes laws. If you think the Federal reserve is the only arbiter of of money policy, you are not understanding that Congress does indeed write and pass legislation that protected the economy of the excesses and bad practices that bought us into our present mess.
”
Bxgrl: I repeat – the monetary policy of the United States is (thankfully) not under the control of the Congress. It is the responsibility of the Federal Reserve. That is a fact.
Yes, CGar, a total gut job, nothing salvageable except maybe the stair railing. And, my fear was that in addition to needing a new roof, it would need all new rafters as well. 🙁
that said, one might be able to repaint the outside shingles. They weren’t that bad but all the windows needed to go.
unemployment is not a stimulus package- it was part of the stimulus package to help stabilize the economy. But have it your way- nothing like losing the forest for the trees.
so did you go see Cheever Pl open house , CGar.
My guess needs good bit of work as owned by same family for longer than most brownstoners been alive.